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GM car sales in China hit monthly record
By Jin Jing |
October 9, 2009, Friday
|
Online Edition
Online Edition
GENERAL Motors Corp said its vehicle sales in China hit a monthly record in September as government stimulus packages revved up demand for cars.
Sales of the US car maker more than doubled to 181,148 units last month from a year earlier, according to its statement today. For the first nine months of this year, GM's sales in China totaled 1.29 million units, representing an increase of 55.6 percent from the same period last year.
"Sales continue to surpass forecasts as nearly all market segments experienced growth," said Kevin Wale, president and managing director of GM China Group. "A major market driving force this year has been first-time car buyers in China's second-, third- and fourth-tier cities."
The state government launched a pilot program to provide subsidies and cut vehicle purchase tax to consumers who sell their cars to buy new ones.
This drove China's vehicle market to grow 29 percent for the first eight months this year, boosting business performance of international car makers and making the country one of the highlights of a gloomy global outlook.
Japan's Mazda Motor Corp yesterday also reported January-to-September sales in China expanded by 31 percent to 122,476 vehicles, paving the way to its full-year sales target to 170,000 units.
GM, the largest overseas auto maker in China, said its sales performance this year should gain it a 13.4 percent market share by September.
Sales of the US car maker more than doubled to 181,148 units last month from a year earlier, according to its statement today. For the first nine months of this year, GM's sales in China totaled 1.29 million units, representing an increase of 55.6 percent from the same period last year.
"Sales continue to surpass forecasts as nearly all market segments experienced growth," said Kevin Wale, president and managing director of GM China Group. "A major market driving force this year has been first-time car buyers in China's second-, third- and fourth-tier cities."
The state government launched a pilot program to provide subsidies and cut vehicle purchase tax to consumers who sell their cars to buy new ones.
This drove China's vehicle market to grow 29 percent for the first eight months this year, boosting business performance of international car makers and making the country one of the highlights of a gloomy global outlook.
Japan's Mazda Motor Corp yesterday also reported January-to-September sales in China expanded by 31 percent to 122,476 vehicles, paving the way to its full-year sales target to 170,000 units.
GM, the largest overseas auto maker in China, said its sales performance this year should gain it a 13.4 percent market share by September.
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